EURUSD Daily Forecast: August 02

EURUSD Forecast
The EURUSD had a moderate bearish momentum yesterday bottomed at 1.1657 and hit 1.1653 earlier today in Asian session. The bias remains bearish in nearest term testing the lower line of the triangle and 1.1600 – 1.1575 support area. Immediate resistance is seen around 1.1680. A clear break above that area could lead price to neutral zone in nearest term testing 1.1725/50 region which is a good place to sell with a tight stop loss as a clear break above 1.1750 would be a threat to the major bearish trend testing 1.1850 area. On the downside, a clear break below 1.1575 would retest 1.1500 key support area. Fundamental focus will be on the US NFP on Friday.